Excess Demand Occurs When

question 59

Multiple Choice

Excess demand occurs when

• A) the actual price is greater than the equilibrium price
• B) equilibrium is undefined
• C) consumer wants are unlimited
• D) the actual price is less than the equilibrium price
• E) the market is in equilibrium

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Definitions:

Accounting Rate

Often referred to as the rate of return, it is a measure used in accounting to evaluate the profitability of investments or compare the efficiency of different investments.

Annual Average Investment

The average amount invested over a year, generally calculated to evaluate the efficiency or profitability of investments.

Projected Income Statement

A projected income statement is a financial statement that estimates a company's revenue, expenses, and net income for a future period.